By The Numbers: Yuga Labs Breaks Ethereum, Gas Fees Set New ATH
The Yuga Labs “Otherdeeds” mint on the Ethereum blockchain has set a new record for any NFT launch. Not only did it set the record in terms of revenue but it had also broken records previously set in terms of fees. It was the sole driver of the transaction fee surge on the network which […]
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The recent Yuga Labs NFT launch on the Ethereum blockchain has crippled the network after demand surpassed all expectations. In total, more than $500 million had been raised in a matter of 24 hours. However, the success of the launch cannot obfuscate the roadblocks that the launch encountered. This had prompted Yuga Labs to not […]
On Friday, Yuga Labs, the firm behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, announced the company acquired the intellectual property behind the Cryptopunks and Meebits brands. Furthermore, after obtaining the IP from Larva Labs, Yuga has decided to give “full commercial rights to the NFT holders.”
Bored Ape Creators Yuga Labs Acquires Cryptopunks and Meebits Collections From Larva Labs
Last year and during the course of 2022, non-fungible tokens (NFTs) have seemingly become a mainstay within the crypto industry. One of the teams....
The non-fungible token (NFT) and blockchain firm Yuga Labs has announced a community council will be representatives of the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFT collections. Yuga Labs has chosen seven community members with “a proven track record” to represent the NFT club at large. **Editor’s Note: This story was updated at 3:50 p.m. (ET) on October 5, 2022, as it included an erroneous number concerning the community grants from Yuga Labs. Yuga Labs Names Seven Community Council Members On Wednesday, Yuga Labs announced that the team has....
Yuga Labs faces accusations of fraud, manipulation and preferential treatment from unhappy community members over Otherdeeds NFT mint. The aftermath of the Otherdeeds nonfungible token (NFT) mint is filled with disgruntled community members voicing their complaints on Twitter over Yuga Labs' handling of the event. The launch of Otherdeeds NFTs gained massive support from the community, selling out almost immediately after it dropped. Because of the high demand, the launch drove up Ethereum gas fees sharply so that users pai from 2.6 Ether (ETH) up to 5 ETH to complete their transactions.....
On Saturday, April 30th, Bored Ape’s creators Yuga Labs broke Ethereum. Their new metaverse-inspired project, Otherside sold plots of virtual land to a roaring crowd of people yelling “Shut up and take my money!” In this case, the currency in question was the recently created ApeCoin. However, since Ethereum hosts ApeCoin and the land NFTs, the roaring crowd needed ETH to pay for the operations’ gas fees. If you’re familiar with Ethereum, you already know what happened. According to IntoTheBlock’s Lucas Outumuro, “The Bored Ape’s Otherside land sale led to more fees being processed by....